[Expired] U.S Bank $125 Checking Promotion, No Direct Deposit Is Required (+ Entry To $50,000 Sweepstakes)

Offer at a glance

• Maximum bonus amount: $125
• Availability: Nationwide
• Direct deposit required: Optional
• Additional requirements: Direct deposits totaling $500 or two bill payments
• Hard/soft pull: Soft, chex systems inquiry will be done
• Credit card funding: Yes, up to $500 
• Monthly fees: $6.95-$8.98, waiveable 
• Early account termination fee: None
• Expiration date: August 10th, 2015

The Offer

Direct link to offer

• Receive a sign up bonus of $125 when you complete the following requirements:
  • Open a new U.S. Bank consumer Silver Checking Package, Gold Checking Package or Platinum Checking Package
  • Complete one or more direct deposits totaling at least $500 or complete two or more Bill Pay transactions (enrollment in Online and/or Mobile Banking is required)
• You’ll also be entered into the U.S Bank $50,000 sweepstakes, you can read the full terms and conditions here.

The Fine Print

• Bonus requirements must be completed within 60 days of account opening
• Bonus will posted within 60 days of meeting the requirements
• Cannot be combined with any other checking promotion
• Not available to existing customers
• Not available if you have received a checking bonus in 2015
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

U.S bank has three checking products which qualify for this promotion:

• Silver Checking Account
• Gold Checking Account
• Platinum Checking account

Probably the easiest way to keep this fee free is to open the Gold Checking account, if you have a U.S Bank credit card then the monthly fees on this account are waived. If you don’t have a U.S Bank credit card then your best bet is to open the silver checking account, these has a monthly fee of $8.95 ($6.95 if you enroll in paper statements) this is waived if you complete any of the following:

• Have combined direct deposits totaling $1,000 or more or
• Maintain an average monthly balance of $1,500

U.S Bank used to charge an early account termination fee, but they no longer charge this fee. You also need to open the savings account which has a minimum balance of $25.

Our Verdict

I completed a similar promotion in 2014, given that I received the bonus in 2014 it looks like I’ll be eligible to get this bonus as well. I love bonuses like this, they are nationwide and do not require a direct deposit AND they can be churned.

I’ll definitely be completing this bonus, fingers crossed myself or one of our readers end up winning the $50,000 sweepstakes. We’ve added this bonus to our best bank bonuses list and also our complete listing of checking bonuses.

Direct link to offer | Screenshot of offer

Hat tip to reader Jess